Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.7.0.1
SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2016
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
14. SEGMENT INFORMATION

We operate through business segments according to the nature and economic characteristics of our products as well as the manner in which the information is used internally by our key decision maker, who is our Chief Executive Officer.  Segment data may include rounding differences.

Our petrochemical segment includes SHR and GSPL.  Our specialty wax segment includes TC which includes the newly acquired plant discussed in Note 7.  We also separately identify our corporate overhead which includes financing and administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs.

   
Three Months Ended June 30, 2016
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Consolidated
 
   
(in thousands)
 
Product sales
 
$
39,202
   
$
5,164
   
$
-
   
$
44,366
 
Processing fees
   
2,419
     
2,069
     
-
     
4,488
 
Net revenues
   
41,621
     
7,233
     
-
     
48,854
 
Operating profit before depreciation and amortization
   
9,476
     
584
     
(1,949
)
   
8,111
 
Operating profit (loss)
   
8,048
     
(196
)
   
(1,956
)
   
5,896
 
Depreciation and amortization
   
1,428
     
780
     
7
     
2,215
 
Capital expenditures
   
5,739
     
5,053
             
10,792
 

   
Six Months Ended June 30, 2016
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Consolidated
 
   
(in thousands)
 
Product sales
 
$
81,826
   
$
9,721
   
$
-
   
$
91,547
 
Processing fees
   
3,860
     
5,647
     
-
     
9,507
 
Net revenues
   
85,686
     
15,368
     
-
     
101,054
 
Operating profit before depreciation and amortization
   
17,886
     
2,647
     
(3,881
)
   
16,652
 
Operating profit (loss)
   
15,122
     
816
     
(3,897
)
   
12,041
 
Depreciation and amortization
   
2,764
     
1,831
     
16
     
4,611
 
Capital expenditures
   
11,401
     
6,993
             
18,394
 

   
Three Months Ended June 30, 2015
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Consolidated
 
   
(in thousands)
 
Product sales
 
$
52,342
   
$
4,323
   
$
-
   
$
56,665
 
Processing fees
   
1,521
     
1,164
     
-
     
2,685
 
Net revenues
   
53,863
     
5,487
     
-
     
59,350
 
Operating profit before depreciation and amortization
   
12,850
     
429
     
(1,679
)
   
11,600
 
Operating profit (loss)
   
11,902
     
(732
)
   
(1,679
)
   
9,491
 
Depreciation and amortization
   
948
     
1,161
     
-
     
2,109
 
Capital expenditures
   
6,204
     
2,903
             
9,107
 
 
   
Six Months Ended June 30, 2015
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Consolidated
 
   
(in thousands)
 
Product sales
 
$
99,525
   
$
7,681
   
$
-
   
$
107,206
 
Processing fees
   
3,045
     
4,242
     
-
     
7,287
 
Net revenues
   
102,570
     
11,923
     
-
     
114,493
 
Operating profit before depreciation and amortization
   
24,562
     
2,503
     
(3,491
)
   
23,574
 
Operating profit (loss)
   
22,519
     
196
     
(3,491
)
   
19,224
 
Depreciation and amortization
   
2,043
     
2,307
     
-
     
4,350
 
Capital expenditures
   
13,019
     
3,831
             
16,850
 

   
June 30, 2016 (restated)
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Eliminations
   
Consolidated
 
   
(in thousands)
 
Goodwill and intangible assets, net
 
$
-
   
$
45,403
   
$
-
   
$
-
   
$
45,403
 
Total assets
   
204,114
     
102,452
     
99,901
     
(129,633
)
   
276,834
 

   
Year Ended December 31, 2015
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Eliminations
   
Consolidated
 
   
(in thousands)
 
Goodwill and intangible assets, net
 
$
-
   
$
46,347
   
$
-
   
$
-
   
$
46,347
 
Total assets
   
195,358
     
86,076
     
98,728
     
(122,371
)
   
257,791